Despite the Federal Reserve’s best efforts to reduce inflation, the most recent data indicates that it is still stubbornly high, hanging around 8.20%. The stock market has been very volatile due to inflationary pressures, and discussions about a recession are gaining momentum.
With inflation still weighing on the economy and housing market, many of you have been asking yourself if “should I buy a home now?” or “what if I sell my home now?”
If you are a first-time home buyer or investor you want to be opportunistic. As the Oracle of Omaha, Warren Buffett, always says, “…“[be] fearful when others are greedy, and greedy when others are fearful.”. The inflationary pressures that are impacting the overall economy and the rising mortgage rates are slowly compressing home values. This downward trend will continue as the real estate market decelerates from the run-up from the past 10+ years. Being poised to buy will allow you to take advantage of the old adage: “buy low and sell high.”
CONSIDERATION WHEN BUYING OR INVESTING NOW:
- You think mortgage payment would be less than rent
- You have saved up for a down payment
- You’re pre-approved for a mortgage
Historically, homeownership is a great hedge against those rising costs because you can lock in what’s likely your largest monthly payment (your mortgage) for the duration of your loan. That helps stabilize some of your monthly expenses. James Royal, Senior Wealth Management Reporter at Bankrate, explains: “A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains what happened to rents in the latest inflation report: “Inflation refuses to budge. In September, consumer prices rose by 8.2%. Rents rose by 7.2%, the highest pace in 40 years.”
If you’re prepared and able to do so, buying a home or investing in real estate can offer enduring stability and a dependable place to live during unpredictable economic times. Reach out to KeyOpp to learn more about how to begin.
Boiler:
The San Francisco real estate market is full of complexities and risks. KeyOpp is here to keep things simple for you and to raise the bar when it comes to deep industry knowledge, local expertise, and a passion for exceptional customer service. We’re a locally focused family-owned business helping you identify and take advantage of Key Opp-ortunities in Real Estate.
Tony Ngo has been a proud San Francisco resident for the past 28 years and graduated from San Francisco State University with a double major in finance services and corporate finance. He proceeded to work in the banking industry, where his introduction to mortgages sparked his aspiration to work in the real estate world.
Annie has a background working for companies such as Genentech and Google. During the rising housing market, she saw how drastic the city has changed compared to what she remembered as a kid growing up in San Francisco. She took a step back from tech and decided to take the leap into real estate. As a San Francisco native, Annie understands the needs of the people! By combining her ability to communicate with others and her knowledge about the Bay Area shaped by decades of personal living experience, Annie is able to provide her clients with the house of their dreams. In fact, this is one of the main reasons Annie made the choice to join the real estate industry. After being able to experience the joy of buying her own first home, Annie knew that she wanted to commit to helping other individuals and families be able to enjoy that same freedom and happiness that comes with owning their own property.
Philipp is a graduate from a leading merchant maritime academy in the Philippines with an Associates in Marine Transportation. As a certified Lean Six Sigma Green Belt, Philipp’s excellent problem-solving and organizational skills make him a great asset to KeyOpp’s Operations Team.
With over 30 years of real estate experience, Lawrence brings a family-focused approach to Real Estate. Starting early on by assisting his father with hands-on repairs and maintenance with various properties and later assisting with the backend operational processes, Lawrence along with his wife Melanie Leung have a developed multiple businesses focusing on all aspect of Real Estate including, but not limited to, Property Management, Investment Strategies as well as Buyer and Seller Representation. By working in multiple aspects of the real estate process, he brings a multi-faceted perspective to the buying and investment process. As a duo team with a strong knowledge of property investment, Lawrence is able to provide all the necessities an investor needs to make the smart choices.
Having grown up with parents working in real estate, I found my passion for this industry at an early age. I chose to follow in their footsteps after seeing how many clients they were able to help fulfill the American Dream of Home Ownership. After 7 years of working extensively in the San Francisco Bay Area, I have developed a keen understanding of the local market and always take the time to figure out what clients really need from me as a professional real estate broker. I take pride in serving my clients with the utmost level of care and professionalism. It is my job to ensure a smooth, worry-free, and satisfying experience for everyone involved.
A graduate of Bachelor of Science in Information Technology from a reputable University in the Philippines Jesu started his career in a BPO company catering to different property management companies that honed him to become a versatile Real Estate Specialist. He was part of a maintenance team and expanded his expertise as a residential relationship manager. Jesu is both knowledgeable and efficient with an uncanny ability to multi-task and consistently deliver great results.
Nathalie began her professional career in software and data management. Working with imperative government statistics, Nathalie developed a strong attention to detail and exceptional multitasking capabilities. As a technical support specialist in the IT industry, Nathalie began to deepen her desire to help people and provide excellent customer service. Driven by a mission to be user-centric and customer-focused, she approaches all customer interactions with sincerity and an eagerness for improvement. She’s your go-to person when you’re stuck, need help, or just need someone to listen.
Erika May Roslin has a BA in Accounting and has professional experience working in finance and administration. She has a robust appreciation for accuracy and precision which makes her well equipped for bookkeeping within the real estate and property management industries. Erika has also developed excellent customer service skills and highly values customer satisfaction. She strives to make customers and clients feel happy with their products and services and seeks feedback to further improve operations.
Cherrylane has developed excellent customer service and conflict diffusion skills during her 20 years in the gaming and casino industry. Patience, honesty, and professionalism are at the heart of her commitments and honors her work with integrity and confidentiality. As Cherrylane pivots into the BPO (Business Process Outsourcing) industry, her advanced customer service experience is extremely useful in ensuring customer satisfaction and support. She has worked and interacted with people from diverse cultures and from all walks of life, making her personable and empathetic. We’re thrilled to have her as part of our operations team.
Emily is originally from Los Angeles, California, and graduated from Chapman University with a degree in Business Communication. Her first experience in a leadership role was as a department manager at Nordstrom. It was here she developed her skills in people management as well as client retention. She was awarded with a “Customer Service All-Star” award by the CEO for her creative problem-solving skills and stellar success in giving customers the utmost best service. Following this chapter, she moved her expertise into a Project Management role at an Architectural Engineering company in Southern California. It was here she found her passion for home design and ultimately real estate. With Emily’s combined people skills and passion for the business of real estate and property management, she is thrilled to help grow all facets of KeyOpp.
Katrina embarked on her professional journey as a Digital Marketing Specialist in Real Estate right after graduating in 2019 with a Bachelor of Arts in Business Administration, majoring in Marketing Management.
Carlyne brings a wealth of experience and expertise to her role as Transaction Support in the real estate sector. With a solid background as a Transaction Coordinator, she has been the trusted point of contact for numerous clients, ensuring seamless transactions from start to finish. Her meticulous attention to detail and commitment to compliance have consistently ensured that all necessary documents are accurately managed and in full accordance with regulations.
She started her Real Estate journey last 2020 as a Compliance Transaction Coordinator, as her
Kristine Cordenillo’s fascination with the concept of home got her into the property management industry. She believes the home is a significant factor in shaping a person’s identity. She was previously a Lease Management Manager for a property management company based in Michigan for about five years. She is currently a candidate for a degree in Masters in Anthropology.
Calvin Yu is a seasoned professional with a decade of diverse experience, underpinned by a foundation in Business Administration from San Francisco State University. His career trajectory includes roles in food service, project management, and as a production associate at Tesla, each contributing to his robust skill set. In these roles, Calvin has demonstrated his ability to thrive in fast-paced environments, showcasing his hardworking nature, diligence, and patience. His time in the food service industry refined his customer service and operational skills, while his project management experience enhanced his strategic planning and problem-solving capabilities. At Tesla, he embraced the challenge of precision and innovation, further solidifying his adaptability and commitment to excellence.